Personal loans are more popular than ever. According to consumer credit data from Equifax, personal loan originations in 2018 were $95 billion, an increase of 15 percent over 2017. Despite this, many lenders still have trouble attracting customers with the most competitive offers. To remain competitive, financial institutions must extend credit offers to more applicants with greater confidence.
Insight Score for Personal Loans provides greater predictive power helping you expand markets, increase conversion rates and better serve your customers.
- Expanding market - layering alternative data to augment risk scores and widen pool of prospects
- Greater predictive power - using advanced data science techniques such as trended data, NeuroDecision Technology (NDT) and explainable AI, to improve accuracy
- Better customer servicing and retention - improved targeting to ensure you make the most competitive offer and provide a frictionless customer experience